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S Foods fiscal Q4 profit climbs 9.4% YOY

S Foods Inc. said its normalized net income for the fiscal fourth quarter ended Feb. 29 amounted to ¥45.67 per share, a decline from ¥47.10 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.44 billion, an increase of 9.4% from ¥1.32 billion in the prior-year period.

The normalized profit margin climbed to 2.3% from 2.3% in the year-earlier period.

Total revenue rose 8.0% year over year to ¥63.01 billion from ¥58.34 billion, and total operating expenses grew 8.2% from the prior-year period to ¥60.52 billion from ¥55.92 billion.

Reported net income rose year over year to ¥1.81 billion, or ¥57.24 per share, from ¥891.0 million, or ¥31.82 per share.

For the year, the company's normalized net income totaled ¥157.78 per share, a fall of 9.4% from ¥174.05 per share in the prior year.

Normalized net income was ¥4.88 billion, compared with ¥4.87 billion in the prior year.

Full-year total revenue increased 13.3% on an annual basis to ¥242.57 billion from ¥214.10 billion, and total operating expenses grew 13.7% on an annual basis to ¥234.14 billion from ¥205.87 billion.

The company said reported net income increased 17.1% on an annual basis to ¥5.08 billion, or ¥164.34 per share, in the full year, from ¥4.34 billion, or ¥155.09 per share.

As of May 25, US$1 was equivalent to ¥110.27.